Maverick global macro hedge fund manager Hugh Hendry, (pictured) profiled in AlphaQ in the August 2015 issue, is reported to be shutting his Eclectica fund.
Assets in Eclectica Asset Management have fallen steadily over the years from a peak in 2012 of USD1.2 billion across all the Eclectica funds, with USD750 million in the hedge fund alone, to a total in 2015 for the whole group of USD300 million and reduced again more recently to under USD200 million.
In terms of performance, Eclectica has endured several years of flat to negative performance. Its initial big achievement of the early years was in 2008 when the main Eclectica fund achieved a contrarian outperformance returning 31.2 per cent.
2009 showed a loss of 8.03 per cent; 2010 a gain of 2.65 per cent; 2011, a gain of 12.11 per cent; a loss again in 2012 of 1.72 per cent and then flat in 2013, before delivering 9.48 per cent in 2014 and 11.57 per cent to mid-year in 2015. 2016 saw a loss of 4 per cent and 2017 has seen a dramatic drawdown for the first eight months, down close to 10 per cent.
